The Great Depression and Indian Industry: Changing Interpretations and Changing Perceptions
To what extent was the underdeveloped world caught up in the vortex of the Great Depression? Did the crisis of 1929–33 leave a particular imprint upon the course of the economic history of the Third World during the inter-war period? Can the years spanning this quinquennium be fairly regarded as constituting a distinctive phase within the broader perspective of much longer-run trends? These questions, together with a whole host of related issues concerning the experience of particular areas, communities and industries, have recently been brought into much sharper focus than has hitherto been so. Although this reawakening of concern can be partly put down to the usual workings of the ‘scholarly cycle’, a far more satisfactory explanation may be found in relating it to the current round of public and academic discussion on the impact of the present-day depression. It is surely no coincidence that since the late 1970s there has been a considerable upsurge of interest in the events of that time; indeed it would not be too much of an exaggeration to say that the subject is forcing its way up the agenda of research priorities at a rate that would have been unthinkable even a decade ago. Over the last few years an increasing number of scholars have been busily engaged in the twin task of purposively re-examiningand reassessing a segment of intellectual territory that was once taken very much for granted and virtually shunted off to the sidelines. Thus by the end of 1986 at least three major international conferences will have been convened on the subject, and no less than fifty separate papers will have been presented.